If you need the income produced by these properties then you cannot buy them in an IRA; that money stays locked up until you hit retirement age.

Do you make a distinction between mobile and manufactured, or are they more or less governed by the same principles?

Here is an article I wrote about my own start and what it took to start in real estate investing at a young age. https://www.biggerpockets.com/renewsblog/2016/07/1...

I don't know for sure, but considering the price, age and required maintenance of properties in that area, im willing to bet you're going to have a negative return for this year and each of the next 5 years until rents cover your expenses.What is your investment goal?

I  am happy that you have decide to take different path at your early age.

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Next look at condition of the building, nothing like ripping out plumbing, HVAC repairs, etc due to age.

Saving has worked for me up to this point and I don't think I'll ever pull back, but in order to get started investing now (or at age 24), I will need to implement a strategy very soon.

The immediately adjacent property (same floorplan, age, condition, size and shape lot, road frontage, etc. sold for $149k in May 2015.The LO did disclose the comp's.

Taxable value right now is about $2,300,000-Loan:  Full recourse 75% LTV (including 75% of $450,000 rehab budget), 5 yr term, 25 year amortization, 4.5% interest with interest only year 1-Age: 1968-Individual HVAC and Hot water heaters-9 down units have been "down" since 2007!!